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Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
02/08/2024
Property Type
Property City
Savannah
Property State
GA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$180,000
Loan-to-Purchase Price
90%
Borrower's Contribution to Purchase
10%
Source of Borrower's Contribution
Cash
Renovation Budget
$125,000
Renovation Budget Funded
100%
Borrower's Contribution to Budget
0%
After-Repair Value
$385,000
Loan-to-After-Repair Value
75%
Renovation Project Scope
Light Rehab
Location Type
Urban
Property Condition
Good
Occupancy at Closing
Vacant
Number of Units
1
Building Square Footage
1,333
Borrower's Plan
Rehab and Sell
Interest Rate
12%
Origination Points
2%
Deal Summary
Malve Capital, a real estate private lending fund, funded a $287,000 1st lien position fix and flip loan for a single-family home in Savannah, GA. We funded 90% of the $180,000 purchase price, while the Borrower contributed 10% cash to the purchase at closing. We also funded 100% of the $125,000 renovation budget. The after-repair value was estimated at $385,000 so our loan-to-after-repair value was 75%. The Borrower plans to sell the property upon completion of the light rehab. The subject property is approximately 1,333 square feet. The interest rate was 12% and we charged 2% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in February 2024.
Funded By
Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.